Friday, December 20, 2013

The third estimate of real U.S. Gross Domestic Product (GDP) report for the third quarter of 2013 was released this morning:

Predicted: +3.6%Actual: +4.1%

The
above percentages represent the quarter-to-quarter change in the Gross
Domestic Product for the United States. The "predicted" figure is what Wall Street forecasters were expecting, while the
"actual" is the real figure. The GDP report is produced by the
U.S. Commerce Department's Bureau of Economic Analysis.

Today's GDP "third estimate" report contains the most authoritative data for the third quarter of 2013.

The
GDP is a very broad measure of economic activity for the entire United
States, covering all sectors of the economy. The Commerce Department
defines real GDP as, "the output of goods and services produced by labor
and property located in the United States."

Thursday, December 19, 2013

New Unemployment Insurance Claims for The Week of December 14, 2013

Earlier today, the Labor
Department released the New Unemployment Insurance Claims report for
the week that ended on December 14, 2013:

Predicted: 337,000Actual: 379,000

Last Week (Revised): 369,000

The above figures represent the number of first-time claims for
unemployment benefits for the entire United States. The "predicted"
figure is what economists and Wall Street forecasters were expecting,
while the "actual" is the true or real figure.

Economist, academics, central bankers and investors pay very close attention to the monthly Employment Situation report as it offers penetrating insight as to the current and near-future state of the overall U.S. economy. If a) Americans are earning more money, b) unemployment is low and c) the economy is creating new jobs, this typically translates to more money being pumped into the economy (and vice versa.)

The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

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